MPPTCL seeks loan from JICA for electricity transmission

BHOPAL: The Madhya Pradesh Power Transmission Company Ltd (MPPTCL) has sought Rs 1,040-crore loan from Japan International Cooperation Agency (JICA) for electricity transmission purposes.

"We have sought Rs 1,040 crore loan from JICA for power transmission purposes," MPPTCL Chairman and Managing Director R K Verma on Monday said.

The MPPTCL has sought the loan to put up transmission lines from the upcoming 1,200-mega watt (MW) Malwa Power Station and two units of 500 MW being set up at Satpura Thermal Power Station, he said.

"According to the plan, we are looking forward to set up sub stations and install additional transformers for electricity transmission with the help of loan," he said.

Verma said they have applied for JICA loan with two per cent interest, adding that under it they won't have to return any amount for initial 10 years.

"After 10 years, we are required to clear the loan in 30 years," he said.

Meanwhile, a team of JICA from Delhi has reached Madhya Pradesh and is holding discussions with MPPTCL officials in connection with the loan, officials said.